EU adds $17.2 mil to the U.K. biz

404 U.K. companies received Media funding since 2001

LONDON — The European Union’s Media Program provided €14 million ($17.2 million) in funding to the U.K.’s audiovisual industry last year.

The figure, published Thursday by Media Desk U.K. in its annual report, represent 35% of the total $49.1 million direct funding Blighty received from the fund between 2007-2011. A total of 404 U.K. companies have received Media funding since 2001.

The 2011 figure include $1.8 million for the Europe-wide distribution of “The Iron Lady,” which grossed $53.7 million from European countries, $38.3 million excluding U.K./Ireland.

With the Media Program due to end next year, the European Commission published the Creative Europe proposal at the end of 2011, a new program to run from 2014 to 2020. Creative Europe has a proposed budget of $2.2 billion, with approximately half allocated to the Media Program, an increase of more than 20% from the 2007-2013 budget of $927 million.

In response Media Desk UK conducted a poll targeting past U.K. beneficiaries of funding to provide evidence to guide the U.K. Government’s consultation on the EC proposal of the impact on growth of business and international potential of projects.

Among the results, also published in the annual report, 100% of producers receiving Media Broadcast funding said it helped maximize the international market potential for projects; while 91% considered Media Development grants important in safeguarding creative control.